940 North Superior Avenue PO Box 940 Tomah, WI 54660 Phone: 608.372.4736 Fax: 608.372.4394 www.tacuonline.com TACU Credit Union l March 2011 Issue TACU ANNIVERSARY Pat Kroncke, a Loan Officer at TACU recently celebrated her 14th year working at TACU. EXPRESS Because time is money PRIVACY STATEMENT Read the enclosed privacy statement for our policy on how we handle your private information. TRY MONEY MISSION YET? Hands on learning, scholarship money, and cost effectiveness (free!) are three reasons to try Money Mission today! www.tacuonline.com 71st Annual Meeting Report Two directors were elected February 17, 2011 at the TACU annual meeting held at the Tee Pee Banquet Hall. 75 members attended the meeting. John Froelich and Linda Johnson of Tomah and Gary Klinker of Camp Douglas were reelected to the board of directors for three year terms. Other members of the 2011 board are Paul Wiese, Onalaska, Paul Salzwedel, Warrens and Gary Dechant and Allen Capaul of Tomah. Chairman Paul Wiese reported on the board of directors’ activities for 2011. Paul Salzwedel, Treasurer, reported assets had increased 2.32% in 2010 to $50,130,277. There are now 6,202 members who have total shares of $45,221,314. Share dividends paid to members from January 1, 2010, to December 31, 2010, totaled $571,159.58. TACU Credit Union President/CEO, John Laufenberg, reported 1,748 loans were made in 2010, for a total of $23,111,340. Laufenberg welcomed members to the 71 st Annual Meeting of their credit union to hear reports that indicate how their credit union is performing financially, to elect leaders and to commemorate the credit union’s achievements. He explained how TACU embodies the Credit Union National Association’s International Credit Union Week theme of “Local, Trusted and Serving You.” As examples, he detailed how TACU opened the new Tomah High School Branch in hopes of “Increasing financial literacy among area youth.” This new endeavor fits with TACU’s people helping people philosophy. The students named the branch Tito’s TACU after the school mascot and student tellers staff the branch. He informed membership that TACU sponsors a unique internet game called Money Mission. To play the game, students learn basic money management skills to obtain a score. The score is calculated based on budget and making wise money choices not devoid of enjoyable expenditures such as going to the theatre. The President explained how The National Credit Union Administration Corporate Stabilization Program assessments will affect TACU’s income for 10 more years. Laufenberg noted TACU grew in assets during the past 3 years. TACU also has 187 more members than in 2009 and TACU is now stronger despite the overall condition of the economy. As TACU President, he promised to continue investing excess funds by keeping in mind the Safety 1 st – Yield 2 nd rule. He also suggested following policies to insure prudent loans continue being made to members. Acquiring quality loans is a way to guarantee that not one penny of member’s insured savings will be lost. Laufenberg thanked the board and staff for their support and thanked members for participating in the annual meeting. Laufenberg drew attendee door prizes at the close of the meeting while members enjoyed a light meal. Low Loan Rate Notice!! 3.75% Our loan rates are at historic lows! Motorcycles, RVs, Trucks, Cars, Boats… you name it! Rates as low as: APR* *Rates are subject to change at any time so be sure to get your loan while the rates are low! Your rate may vary based on credit score and other factors. Refinance your existing loans from other places and save big money! Apply today!